SteelOrbis has been informed that as of July 28 ex-China stainless steel coil export prices are at $1,900-1,950/mt FOB, remaining stable compared to July 21.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have increased by RMB 100 ($14.2/mt), providing support for stainless steel export prices.
Nickel prices at the London Metal Exchange (LME) have moved up slightly over the past week.
During the given week, demand for stainless steel has been slack, while rising futures prices in China have encouraged traders to raise their offer prices. Ferronickel prices have remained stable compared to the previous week, while ferronickel supply in the Philippines has been tight, which will provide support for prices.
Stainless steel futures at the Shanghai Futures Exchange closed at RMB 13,785/mt ($1,972.2/mt) on Tuesday, July 28, increasing by RMB 280/mt ($40.1/mt) or 0.63 percent compared to RMB 13,505/mt on July 21.
$1 = RMB 6.9895
